Crypto Advertising Rules in the UK: What Businesses and Investors Need to Know in 2026

In the UK, advertising crypto has become a minefield for businesses. Here's what you need to know.

What changed in 2023?

On October 8, 2023, the Financial Conduct Authority (FCA) the UK's independent financial regulator responsible for overseeing markets and firms implemented new rules under the Financial Services and Markets Act 2000 the UK law governing financial services, amended in 2023 to include crypto advertising rules. These rules reclassified many cryptoassets as 'Restricted Mass Market Investments.' Now, ads for Bitcoin, Ethereum, and similar tokens must include specific warnings and follow strict rules. Before this, many crypto ads flew under the radar. Now, they're heavily regulated.

The FCA requires all crypto ads to have personalized risk warnings. These warnings must be tailored to the individual viewer's knowledge and experience. For example, a first-time investor sees a stronger warning than someone with years of trading experience. The risk warning must take up at least 20% of the ad space and use clear, non-technical language. The FCA's GC23/1 guidance document provides templates for these warnings.

Another key rule is the mandatory 24-hour cooling-off period. After a potential investor first contacts a crypto firm, they must wait 24 hours before committing to a trade. This gives them time to think and avoid impulsive decisions. Firms must have systems in place to enforce this. If they don't, they risk fines up to 10% of annual turnover.

Broadcast ads now banned on mainstream channels

Starting October 3, 2024, the Broadcast Committee of Advertising Practice (BCAP) banned crypto ads on TV, radio, and social media. Now, these ads can only appear on specialized financial channels like Bloomberg or Reuters TV. This means if you're trying to advertise crypto to the general public, you're out of luck. The BCAP rule 14.5.5 explicitly states that 'the advertised products or services should be available only to clients who have demonstrated through a pre-vetting procedure compliant with the FCA's appropriateness test that they have relevant financial trading experience.'

This change came after the FCA's October 2023 review, which found that crypto ads were often misleading. For example, some ads made crypto look like safe investments when they're actually high-risk. The BCAP rule helps prevent this by restricting ads to audiences who understand the risks. Social media platforms like Instagram and TikTok now block crypto ads unless they're in specialized financial sections.

How firms are struggling to comply

Crypto firms in the UK are finding it hard to keep up. They need to track every ad for five years. They have to check each customer's experience before letting them invest. The FCA's compliance review found 'multiple instances where firms did not meet the required standards.' But they're working with firms to improve. The FCA reported a 40% increase in crypto-related compliance inquiries in Q1 2024 compared to Q4 2023.

Personalized risk warnings are especially tough. Firms must develop dynamic content systems that adjust warnings based on individual investor profiles. For example, a new investor sees a warning like 'Crypto is high-risk; you could lose all your money.' An experienced trader might see a shorter warning. The 24-hour cooling-off period also requires technical infrastructure to prevent premature transactions. Some smaller platforms have left the UK market due to compliance costs.

As of March 2024, only 15 out of 60 crypto firms that applied for FCA registration have been fully approved. The rest are under temporary registration. The FCA has warned that 'if firms do not improve, we will act.' Fines for non-compliance can reach 10% of annual turnover under the Financial Services and Markets Act 2000.

How UK rules compare to other countries

The UK's approach is stricter than many other countries. The EU's MiCA framework, effective since June 2024, allows broader advertising with disclaimers. For example, EU firms can advertise crypto on TV with a standard disclaimer. Switzerland has fewer restrictions; crypto ads there are allowed on most platforms with simple warnings. Singapore's MAS guidelines permit broader advertising with simpler risk warnings. The UK's emphasis on consumer protection means it's more cautious.

In the US, many cryptoassets are treated as securities requiring full registration, which is different. The UK's system creates a middle ground with specific risk categorization but maintains stricter broadcast advertising limitations than jurisdictions like Switzerland. Unlike the US, the UK doesn't treat all crypto as securities but still has strict ad rules.

What's next for crypto regulation

In May 2025, the FCA published Discussion Paper DP25/1, proposing a comprehensive regulatory framework. This includes rules for cryptoasset trading platforms, intermediaries, lending, and DeFi. The FCA explicitly states that 'cryptoassets will remain high-risk, speculative investments.' This signals continued strict oversight. The paper also mentions stablecoins, with proposals published in late 2024.

The FCA's roadmap for crypto regulation outlines a phased approach. Advertising restrictions were the first step. Next, they'll focus on stablecoins and broader infrastructure frameworks. The FCA has said it will 'continue to work with industry' on the current and upcoming crypto regime. This suggests a collaborative but firm approach to regulation. Long-term, the UK aims to position itself as a 'global crypto hub' through 'proportionate regulation' while maintaining strong consumer protections.

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